Robert W. Baird Forecasts Strong Price Appreciation for Carvana (NYSE:CVNA) Stock

Carvana (NYSE:CVNA) had its target price boosted by equities research analysts at Robert W. Baird from $200.00 to $250.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential downside of 10.93% from the company’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company cut their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a report on Monday, December 16th. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Carvana in a report on Thursday, February 6th. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada raised shares of Carvana from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $270.00 to $280.00 in a research note on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.47.

Carvana Price Performance

Carvana stock opened at $280.68 on Thursday. The company has a market capitalization of $58.28 billion, a PE ratio of 28,096.50 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a 50-day moving average price of $234.84 and a two-hundred day moving average price of $206.90. Carvana has a 12 month low of $48.15 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Analysts expect that Carvana will post 0.87 EPS for the current year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the transaction, the chief financial officer now owns 189,761 shares in the company, valued at $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the transaction, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,629 shares of company stock valued at $44,833,799. 17.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carvana

Large investors have recently bought and sold shares of the stock. Quent Capital LLC purchased a new stake in shares of Carvana in the fourth quarter valued at about $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana in the 4th quarter valued at about $31,000. ORG Wealth Partners LLC bought a new position in shares of Carvana during the 4th quarter worth approximately $34,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carvana in the 3rd quarter worth approximately $40,000. 56.71% of the stock is currently owned by institutional investors.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.